Nifty daily analysismarket is in bullish mode.
if it opens sidewasys and crosses resistance then buy
for big gap up we will see futher price-action
for gapdowm, we will only sell if it breaks support
Niftyindia
Critical support/resistance levels for Nifty for medium term.Nifty is at a critical juncture. The support and resistance levels for Nifty for the remaining days in the month of August are as under:
Resistance Zone: 17719 to 17779.
Major Resistance Zone: 17779 to 18118.
Support zone: 17349 to 17606.
Other Support: 17178.
Level beyond which Bears will regain control over the market: 16616 (Major Support).
Long Term Target: 19546
NIFTY50*Everything is mentioned on the chart. I hope it is easy to understand.
*Don't jump in to trade at the beginning of the market. let it get settle for 15-20 min first and judge price action.
*Avoid gap up or gap down chase. Wait and trade between level.
Note :Trade with strict stoploss. It may or may not hit all the levels. So one can book profit / loss at respective level considering how price action work near that level.
Only for educations purpose.
Harmonic Butterfly flutter it's wings: Will fly up or down?The high that Nifty made today 17719 to 17832 will be tough to cross. Even if that is crossed or touched there is a major resistance beyond it which extends upto 18117. FIIs are buying relentlessly of late. May be their buying power can help us cross this important resistance. Investors should be aware of this zone and if there is a correction be prepared for Profit booking or partial profit booking. The support incase of correction will be at 17349, 17178 and 16930. Below 16930, 50 and 200 days EMA which are around 16600 will be major support. Only below 16600 bear will be again back in control of the market.
Nifty Levels for 12/08/2022Dear traders, I have identified chart levels based on my analysis, major support and resistance levels. Please note that I am not a SEBI registered member. Information shared for educational purpose. Please do take trade based on your own analysis and risk-taking abilities. Never ever worked with fixed mindset. Any news/result data may change the direction of the trend instantly. Focus on learning so you can take correct/better decision based on your analytical skills. PLEASE NOTE THAT NO ONE CAN BE 100% CORRECT. OVERALL, WE SHOULD CONTINUE TO LEARN & BE ABLE TO CLOSE IN PROFIT EVEN IF WE ARE 50% CORRECT WITH RISK REWARD RATIO 1:2
Nifty is quickly reached long term resistance level. Today buying volumes were low after gap-up. All positives are factored in. Is profit booking expected at this level? Is buying on dips going to be better strategy for Friday's trade?
NIFTY 50 AT RESISTANCENifty 50 has seen remarkable move since June 2022 from 15200 levels to 17700.
Currently it has reached at a price area
, where it could struggle for a while.
Today's Price Action
1. Opens gap up, did not sustain, closes near its low.
2. Rsi is also overbought, though no sign of weakness.
We may see nifty going sideways for a while.
Immediate Support @ 17400 - 17200
Nifty Levels for 11/08/2022Dear traders, I have identified chart levels based on my analysis, major support and resistance levels. Please note that I am not a SEBI registered member. Information shared for educational purpose. Please do take trade based on your own analysis and risk-taking abilities. Never ever worked with fixed mindset. Any news/result data may change the direction of the trend instantly. Focus on learning so you can take correct/better decision based on your analytical skills. PLEASE NOTE THAT NO ONE CAN BE 100% CORRECT. OVERALL, WE SHOULD CONTINUE TO LEARN & BE ABLE TO CLOSE IN PROFIT EVEN IF WE ARE 50% CORRECT WITH RISK REWARD RATIO 1:2
Bullish Divergence is observed in RSI. Nifty is looking in hurry to touch long term resistance level after gap-up opening. US inflation is cooling off QoQ basis and markets are reacting quite positively. Dow Jones is up 480 plus points and Nasdaq is up 320 plus points. Bull should become cautious and continue with profit booking. Trader should work level by level with strict stoploss. Retail investors are really enjoying the ongoing rally. Let us see if relief rally converts into bull run or global issues will take over the relief rally again in coming days.
Have a profitable day ahead!
Nifty advanced chart formationI have observed this pattern in Nifty daily chart
1500 to 1600 points down move
2300 to 2400 points down move
If the recent high is temporary top for time being a 1500 points correction is possible in the index
2 days closing above 17600 will reject this pattern and next resistance will be 18200
Nifty Levels for 10/08/2022Dear traders, I have identified chart levels based on my analysis, major support and resistance levels. Please note that I am not a SEBI registered member. Information shared for educational purpose. Please do take trade based on your own analysis and risk-taking abilities. Never ever worked with fixed mindset. Any news/result data may change the direction of the trend instantly. Focus on learning so you can take correct/better decision based on your analytical skills. PLEASE NOTE THAT NO ONE CAN BE 100% CORRECT. OVERALL, WE SHOULD CONTINUE TO LEARN & BE ABLE TO CLOSE IN PROFIT EVEN IF WE ARE 50% CORRECT WITH RISK REWARD RATIO 1:2
Nifty is ignoring the global issues and quickly approaching long term resistance level with strong buying support from Bulls. Nifty is trading above all important averages and VWAP. Is buy on dips going to be better strategy till Nifty shows signs of weakness and start trading below important moving averages?????
Have a profitable day ahead!
Strong Rebound by Nifty Support and Resistance zones.Nifty has given a strong rebound after a weak start on Monday morning. There are Three Resistance zone in its path ahead as shown in the chart under the names of R1, R2 and R3. The support Zones for Nifty are indicated as S1 and S2.
R1= 17591 to 17796
R2= 17796 to 18117
R3= 18117 to 18608
S1= 17168 to 16800
S2= 16800 to 16400
SBI Daily Chart - Evening Star Pattern with high selling volumesDear traders, I have identified chart levels based on my analysis, major support and resistance levels. Please note that I am not a SEBI registered member. Information shared for educational purpose. Please do take trade based on your own analysis and risk-taking abilities. Never ever worked with fixed mindset. Any news/result data may change the direction of the trend instantly. Focus on learning so you can take correct/better decision based on your analytical skills. PLEASE NOTE THAT NO ONE CAN BE 100% CORRECT. OVERALL, WE SHOULD CONTINUE TO LEARN & BE ABLE TO CLOSE IN PROFIT EVEN IF WE ARE 50% CORRECT WITH RISK REWARD RATIO 1:2
Evening Star Pattern near 52 W high- Reversal Pattern. Shall we expect profit booking after decent rally in SBI?
Nifty Levels for 08/Aug/2022Dear traders, I have identified chart levels based on my analysis, major support and resistance levels. Please note that I am not a SEBI registered member. Information shared for educational purpose. Please do take trade based on your own analysis and risk-taking abilities. Never ever worked with fixed mindset. Any news/result data may change the direction of the trend instantly. Focus on learning so you can take correct/better decision based on your analytical skills. PLEASE NOTE THAT NO ONE CAN BE 100% CORRECT. OVERALL, WE SHOULD CONTINUE TO LEARN & BE ABLE TO CLOSE IN PROFIT EVEN IF WE ARE 50% CORRECT WITH RISK REWARD RATIO 1:2
NIfty Closed flat in slight green. Max OI on call side is at 18000 and on put side at 17000 for 11/Aug expiry. PCR is in bearish zone. Nasdaq closed in Red. Is dip in Nifty going to be buying opportunity or long term investor should wait for better opportunities?
Nifty Next Week: Market Outlook 8th to 12 August 2022Market Outlook 8th to 12 August 2022.
As Nifty hourly chart continues to move in the channel which started around 13th June 2022. Recently it hit the channel top and faced resistance 17490 and faced channel top resistance since. 17161 payed as a major support during the news surrounding China-Taiwan crisis and should be looked at as a pivotal support for now. Other major Supports and resistance for NIFTY for the next week that is 8th to 12 August 2022 will be:
NIFTY Supports: 17345, 17161, 17023 and finally the range between 16535 to 16735.
Nifty Resistances: 17414, 17489, 17576 and finally Channel top resistance which can be anywhere between 17576 to 17691.
Nifty Future Level of 21000. Is it feasible for growing economy?Dear traders, I have identified chart levels based on my analysis, major support and resistance levels. Please note that I am not a SEBI registered member. Information shared for educational purpose. Please do take trade based on your own analysis and risk-taking abilities. Never ever worked with fixed mindset. Any news/result data may change the direction of the trend instantly. Focus on learning so you can take correct/better decision based on your analytical skills. PLEASE NOTE THAT NO ONE CAN BE 100% CORRECT. OVERALL, WE SHOULD CONTINUE TO LEARN & BE ABLE TO CLOSE IN PROFIT EVEN IF WE ARE 50% CORRECT WITH RISK REWARD RATIO 1:2
Interesting Nifty future Level by FY2023-24: 21000
More than 20% conservative returns within 2 years.
Is it feasible for growing emerging Indian economy looking at Indian GDP amid global issues?
Please do share your ideas. Thanks
Nifty Index (SPOT) Levels for 05/08/2022 Dear traders, I have identified chart levels based on my analysis, major support and resistance levels. Please note that I am not a SEBI registered member. Information shared for educational purpose. Please do take trade based on your own analysis and risk-taking abilities. Never ever worked with fixed mindset. Any news/result data may change the direction of the trend instantly. Focus on learning so you can take correct/better decision based on your analytical skills. PLEASE NOTE THAT NO ONE CAN BE 100% CORRECT. OVERALL, WE SHOULD CONTINUE TO LEARN & BE ABLE TO CLOSE IN PROFIT EVEN IF WE ARE 50% CORRECT WITH RISK REWARD RATIO 1:2
Nifty is looking weak ahead of RBI's meeting in India. Heavy call writing is done today for 11/Aug next week expiry. Put side: Long buildup with hedge for next week expiry. Overall derivative data turned from bullish to bearish within a day. Buying volumes are low. Pull backs were immediately sold today. Bears are trying hard to take over the control back. Shall we look for sell on rise strategy for tomorrow? RBI's policy and USA expiry data will be very important for tomorrow's direction.
Nifty levels for 04/08/2022Dear traders, I have identified chart levels based on my analysis, major support and resistance levels. Please note that I am not a SEBI registered member. Information shared for educational purpose. Please do take trade based on your own analysis and risk-taking abilities. Never ever worked with fixed mindset. Any news/result data may change the direction of the trend instantly. Focus on learning so you can take correct/better decision based on your analytical skills. PLEASE NOTE THAT NO ONE CAN BE 100% CORRECT. OVERALL, WE SHOULD CONTINUE TO LEARN & BE ABLE TO CLOSE IN PROFIT EVEN IF WE ARE 50% CORRECT WITH RISK REWARD RATIO 1:2
Is Nifty in hurry to touch long term resistance zone? Or Will global issues trap Bulls?
Nifty 50 Index levels for 03/08/2022Dear traders, I have identified chart levels based on my analysis, major support and resistance levels. Please note that I am not a SEBI registered member. Information shared for educational purpose. Please do take trade based on your own analysis and risk-taking abilities. Never ever worked with fixed mindset. Any news/result data may change the direction of the trend instantly. Focus on learning so you can take correct/better decision based on your analytical skills. PLEASE NOTE THAT NO ONE CAN BE 100% CORRECT. OVERALL, WE SHOULD CONTINUE TO LEARN & BE ABLE TO CLOSE IN PROFIT EVEN IF WE ARE 50% CORRECT WITH RISK REWARD RATIO 1:2
Selling was intense in last 30 minutes. Consolidation is going on. India VIX has jumped up more than 11% in last two days. We need to be careful at higher levels and utilize profit booking opportunities whenever possible.
Nifty Levels for 02/08/2022Dear traders, I have identified Nifty level based on my analysis, major support and resistance level. Please note that I am not a SEBI registered member. Information shared for educational purpose. Please do take trade based on your own analysis and risk-taking abilities. Never ever worked with fixed mindset. Any news/result data may change the direction of the trend instantly. Focus on learning so you can take correct/better decision based on your analytical skills. PLEASE NOTE THAT NO ONE CAN BE 100% CORRECT EXCEPT GOD. OVERALL, WE SHOULD BE ABLE TO CLOSE IN PROFIT EVEN IF WE ARE 50% CORRECT WITH RISK REWARD RATIO 1:2
Nifty is quickly approaching long term resistance zone . Nifty PCR already entered in Highly Over Bought Zone. Today India VIX jumped up by 5.65%. Max OI on call side is at 17500. Max OI on put side is at 16500.
Is it a good time to book profit and wait for buy on dips opportunities ? Please review and respond with your views. Many thanks.
NIFTY FAST APPROACHING RESISTANCE ZONEAs Nifty continues to exhilarate powered by fresh FII buying the bull rally after making a bottom near 15182 is thriving and going full throttle. There is no sign of weakness as of now but Nifty might be approaching a place which even the bulls will find difficult to clear very easily. It is not impossible but very difficult. Anything can happen if FII money comes back in full flow. Support, light and heavy resistances for NIFTY are as under:
Light Resistance Zone : 17375 to 17649.
Heavy Resistance Zone : 17649 to 17911.
Support Zone : 16747 to 16447.
NIFTY 50 - Probable path moving ForwardThere is a probability of Shark Pattern on the daily chart of Nifty50.
We have seen a rapid up move in the past two weeks and this week also nifty opened on a positive note and might see some more upside in the coming trading sessions.
Though the Nifty 50 is coming close to a major supply zone and we might see it either halting or a sharp correction from there.
Supply zone 17500- 17800.
Nifty50 in short-TermI Think Nifty50 is in a Diamond Diametric and I drew possible Scenario for few next Months. The index can make top on 17500 point and go down to 15000 point until September 2022.
Nifty Outlook 1st to 5th July 2022. Can the rally continue?Will the rally continue or fizzle out? Is the big question. After a fantastic week where we saw Nifty end at 17158.25 after taking support from 200 days EMA we are set for another week where Nifty where Nifty is in the position to move forward if it can clear few resistances that are up and ahead. The support levels for Nifty on the down side are 17028, 16947, 16747 and finally 16535. Below 16535 which looks unlikely for now Nifty can go to the levels of 16430 or 16304. The resistances Nifty has on the way up are: 17213, 17333 and 17431. Above 17431 major hurdles will be 17649 and 17798. These 2 levels (17649 and 17798) can be crossed if and only if there is a massive participation from FIIs, DIIs and Retail investors.
Nifty retracement possibilities
As long as 16800 is holding nifty can reach 17400 level
On closing basis closing below 16800 will trigger fresh selling
